Solar farm under overcast sky, four people walking on dirt road
New Delhi – Indian conglomerates RPSG, Inox, and Hexa have emerged as potential buyers for the Indian renewable energy business of Italian utility giant Enel. The firms submitted their bids last week in an auction process that values Enel’s India operations in the range of ₹3,000 crore, approximately $360 million.
The Enel India business comprises a portfolio of renewable energy generation projects with a combined potential capacity of 2.5 gigawatts. The bidding process followed a rigorous six-week due diligence period, during which the prospective suitors were granted access to the operational assets of Enel Green Power India Pvt Ltd.
Enel, which has been strategically divesting non-core assets globally, is looking to exit its Indian renewable energy ventures. This move aligns with the company’s broader strategy to optimize its geographic presence and focus on core markets.
The competition among RPSG, Inox, and Hexa highlights the significant interest from domestic players in India’s rapidly expanding renewable energy sector. The ₹3,000 crore valuation suggests a strong market appetite for operational renewable energy assets in India, driven by government targets and increasing demand for clean energy.
Further details on the bidding process and the eventual winner are expected in the coming weeks as Enel evaluates the submitted offers.
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